XM Group Review 2026

Trust

XM Regulators

In our reviews, we examine the regulatory status of each entity operated by a broker. This allows us to compare the different levels of client protection. We rank regulators using a three-tier system, where Tier-1 licensing reflects the highest level of regulation.

Here are my findings on the various entities of XM:

• Trading Point of Financial Instruments Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 120/10. We rate CySEC as a Tier-1 regulator.
• Trading Point MENA Limited is regulated by the Dubai Financial Services Authority (DFSA) under licence number F003484. We rate DFSA as a Tier-2 regulator.
• XM Financial Products Promotion LLC is regulated by the UAE Capital Market Authority (CMA), licence number 20200000322. We rate CMA as a Tier-2 regulator.
• XM ZA (Pty) Ltd is licensed and regulated by the South African Financial Sector Conduct Authority (FSCA) under licence number 120/10. We rate FSCA as a Tier-2 regulator.
• XM Global Limited is registered by the Financial Services Commission of Belize (FSC) under the Securities Industry Act 2021 under license number 8557558.
• XM International MU Limited is registered by the Financial Services Commission of Mauritius (FSC) under the Investment Dealer’s Licence (license number GB23202700).
• XM (SC) Limited is regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer’s License number SD190.

How XM Protects You

Brokers operate multiple entities to serve clients globally, yet regulatory protections vary by jurisdiction. Some regulators enforce strict financial standards, while others are more lenient. Traders should understand the protection offered by the entity where they intend to open an account.

• Segregation of Client Funds: Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All of XM’s entities ensure this.
• Negative Balance Protection: This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. This is especially important in volatile markets. All XM entities provide negative balance protection.
• Compensation Scheme: A compensation scheme protects retail traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. Only clients of Trading Point of Financial Instruments Ltd (EU-based entity) are insured up to 20,000 EUR by the Investor Compensation Fund (ICF).
• Secure Socket Layer (SSL): XM uses advanced SSL encryption to safeguard clients’ personal and financial information. This technology ensures that all data transmitted between the client and the platform remains protected, private, and inaccessible to unauthorized parties.
• Secure Payment Methods: XM offers a wide range of trusted, security-focused payment options, each thoroughly vetted to meet strict protection standards and ensure safe, reliable transactions for clients.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on the broker’s operating history, size, and overall credibility.

Founded in 2009, XM has established itself as a highly experienced CFD broker with a long-standing track record in the industry. According to the broker, it has over 1,000 employees worldwide, underscoring its status as a large and well-resourced brokerage. XM is a part of Trading Point Group, which also owns Trading.com.

With over 15 million clients across more than 190 countries, XM is one of the world’s largest brokers, processing nearly 14 million trades daily.

XM also demonstrates transparency in its regulatory profile, prominently listing its licenses in the website footer and on a dedicated Regulation page. The broker’s Help Center addresses questions on fees, while more detailed terms are available in the Client Agreement, found under the Legal Documents section.

Is XM Safe to Trade With?

In summary, my findings indicate that XM can be regarded as having a moderate to high level of trust and stability due to the following factors:

• 15-year operating history
• All entities are regulated
• All entities segregate funds
• All entities offer negative balance protection

The only drawback of XM is that all entities (except the EU-based Trading Point of Financial Instruments Ltd) lack a compensation scheme in the event of broker insolvency.

Fees

XM Trading Fees

XM Spreads

I tested the spreads at XM during the London open and just after the New York open on 22 September 2025. At these times, the market is typically highly liquid with the tightest spreads.

XM Standard Account spreads were wider than average in every asset tested, with the exception of indices.

XM Swap Fees

The table below shows the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract.

In forex, a full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair), or 100 ounces in the case of gold. I recorded the data on 19 September 2025.

I rate the swap fees at XM as average for the industry.

XM Non-Trading Fees

Deposit and Withdrawals: XM covers deposit and withdrawal fees for most payment methods. However, bank wire payments below USD 200 are not covered. For crypto deposits, clients must cover the fees during payment processing; if the instructions are not followed correctly, funds may be delayed to credit in the trading account.

Inactivity: Accounts that remain dormant for 90 days or more are charged a monthly fee of $10, which is fairly standard for the industry.

Are XM Fees Competitive?

I rate the fees at XM as mixed based on the following:

• Standard Account spreads are relatively costly
• Competitive spreads are available via the Ultra Low account
• Average swap fees
• No fees for deposits and withdrawals (except for international bank transfer under $200)
• $10 inactivity fee

Platforms and Tools

MetaTrader 4 and MetaTrader 5 are fully integrated into the XM platform, allowing traders to access either terminal with just a few clicks. Whether you prefer the popular MT4 platform or MT5’s more advanced tools, you can easily log in from a unified interface.

XM Web Platform

General Ease of Use

The XM web platform combines a clean, intuitive interface with strong functionality. I found it easy to navigate while also offering advanced features. The platform supports copy trading and is available in over 30 languages. Its balance of simplicity and advanced tools makes it suitable for both beginners and experienced traders.

Key Features

The standout features of the XM web platform include:

• Watchlists: Customizable watchlists let traders track preferred instruments from a single dashboard. Built-in options include thematic lists such as top gainers, top losers, and asset-class breakdowns.
• Alerts: Traders can set personalized price alerts that trigger in real time when instruments hit chosen price levels. Delivered directly through platform notifications, these alerts help identify opportunities and risks without constant market monitoring.
• One-Click Trading: With one-click trading, positions can be opened and closed instantly from the interface, boosting speed and convenience. This feature is particularly valuable for scalpers and active traders who rely on fast execution to capitalize on short-term market movements.
• Trading from the Chart: Orders can be placed and managed alongside TradingView charts, which feature advanced tools and technical indicators. This integration supports more intuitive, visually driven trading decisions.
• Direct Hedging: The XM web platform supports direct hedging, letting traders hold opposing positions on the same instrument simultaneously. This flexibility enables protective strategies to lock in gains or mitigate losses.

Charts

The XM web platform integrates TradingView charts, which I consider top-notch. The charts come packed with powerful features, including:

• 90+ technical indicators, covering popular trend, volume, and momentum tools.
• 50+ drawing tools, such as trend lines, channels, Gann, and Fibonacci retracements.
• 10 time frames, ranging from one minute to 12 months.
• 15 chart types, from classic bar and Japanese candlestick charts to advanced options like Heikin Ashi.

Orders

The XM web platform offers the essential order types, including market, limit, and stop-loss orders. Traders can apply time-in-force conditions such as Good-Till-Cancel (GTC) for greater flexibility. Stop-loss levels can be defined by either price or dollar value, but trailing stop-loss orders are not available.

Copy Trading

Copy trading is conveniently built directly in the web platform and enables users to automatically replicate trades from experienced traders through a simple, user-friendly interface. Traders can choose strategies, manage risk settings, and stop copying anytime. I liked the intuitive design and features, but I found the range of available strategies to be somewhat limited at the current time.

XM Web Platform: My Key Takeaways

After two weeks of testing, I found the XM web platform to be both feature-rich and highly intuitive. Unlike many web-based platforms that sacrifice functionality for simplicity, XM raises the bar with a robust suite of tools—including advanced charting, research, news feeds, watchlists, alerts, and copy trading—all directly integrated within the interface. I rate it as a great fit for beginners, casual investors, and active day traders alike.

XM Mobile App

The XM mobile app provides a fast and smooth trading experience, offering complete account management on the go. Available on both iOS and Android, it combines rapid execution with advanced charting, one-click trading, customizable watchlists, price alerts, and an integrated economic calendar. Traders also benefit from live education, Trading Central signals, and a Reuters news feed—all within the app.

The full range of charting tools and order types available on the web platform is complemented by extras such as live chat support, educational resources, and biometric login for added security. Deposits and withdrawals can be completed through the app, making it a powerful all-in-one solution for mobile trading.

XM Mobile App: My Key Takeaways

I found the XM mobile app to be highly impressive. It delivers the full suite of web platform features and far exceeds what most brokers offer. I liked that TradingView charts adapt to landscape mode and offer the complete toolkit, including 90 indicators.

Another standout feature is the app’s live education feature. The app’s intuitive design makes it well-suited for beginners while also offering the depth and functionality required by seasoned traders.

XM Order Execution Model

XM uses the B-Book, or “Market Maker,” model, in which the broker takes the opposite side of your trades. In this setup, your orders are filled directly by XM, with the broker buying when you sell and selling when you buy. XM takes all reasonable steps to deal on the terms that are the best available (best execution).

Tradable Instruments

XM offers an impressively broad product lineup, comfortably exceeding industry averages across nearly every asset class.

What are CFDs?

A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between an asset’s current value and its value at the time the contract was initiated. Like futures and other derivative financial instruments, CFDs allow traders to speculate on price movements without owning the underlying asset.

What CFDs Can You Trade with XM?

To better illustrate the range of instruments available at XM, the following tables show samples from various asset classes:

Turbo Stock and Thematical Indices

XM also offers some unique instruments – Turbo Stocks and Thematic Indices, which are only available at selected entities.

Turbo Stocks

By trading Turbo Stocks from leading global brands, XM clients can capitalize on intraday volatility and short-term market movements with the help of leverage. Turbo Stocks are available on all Standard Accounts and can be traded through the MT5 platform.

Thematic Indices

Thematic Indices allow traders to target some of the most attractive market themes by tracking the performance of specific sectors, industries, or trends. Popular themes include technology, healthcare, and blockchain. These indices are available on all Standard and Ultra Low Accounts and can be traded on the MT5 platform.

XM Instruments: My Key Takeaways

I was impressed by the breadth of XM’s tradable instruments. Thematic indices such as LATAM Giants and Trump Winners add unique depth, while turbo stocks provide traders with enhanced leverage on shares. Crypto traders, in particular, benefit from a remarkably wide selection of 60 pairs.

Customer Support

When you open an account with XM, you are assigned a dedicated Client Relations Manager who provides personalised support from the start. This representative becomes your main point of contact for key account matters, helping ensure a smooth trading experience.

XM’s customer support also stands out for its broad multilingual coverage, offering assistance in more than 30 languages. Support is available in English, Spanish, Portuguese, Arabic, Thai, Malay, Hindi, Vietnamese, Russian, Chinese, and many other languages.

XM Customer Support Test

Support is a key component of a broker’s offering – whether you are a new trader looking for guidance on how to use the platform or an experienced trader who needs help fast to exit their positions in the event of a technical glitch.

Over a two-week test period, XM’s 24/7 customer support consistently impressed me. Live chat agents replied in under a minute every time, while email responses were also prompt. My questions ranged from simple fee inquiries to more complex issues regarding platforms, tools, and regulations. In every case, the support team provided clear, helpful answers, making the overall experience smooth.

Deposit and Withdrawal

How Do You Deposit Money with XM

XM provides a strong selection of deposit options with consistently fast processing times. Funds typically appear in your trading account within seconds, allowing you to enter positions at the right moment, react quickly to market moves or economic news, and keep your trading strategy running without interruption.

How Do You Withdraw Money from XM

XM processes withdrawal requests instantly through its AI-powered Back Office System, which utilizes algorithmic parameters to deliver speeds significantly faster than the industry average.

Local Payment Support

XM provides region-specific deposit and withdrawal methods that make funding and withdrawals more convenient for clients across different markets while maintaining strict regulatory standards.

Localized options include instant bank transfers in Southeast Asia (Thailand, Malaysia, Vietnam), local-currency deposit solutions in Latin America, mobile money services such as M-Pesa in parts of Africa, and Arabic-language banking interfaces for clients in the Middle East and North Africa.

Account Types and Terms

How to Open an Account with XM

Opening a live account with XM’s Belize entity is a quick and straightforward process. To register, you provide your email address and country of residence, then verify your phone number. Next, you’ll enter personal details such as your full name, date of birth, and residential address, followed by your trading experience level. To complete the process, identity verification is required using a valid government-issued document.

Clients can choose from a wide range of base currencies to denominate their accounts, including USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD, and PLN.

What Account Types XM Offers

The table below breaks down the key features of each of the three account types available.

The Standard Account is well-suited to beginners and casual traders, while the Ultra Low Account appeals to active traders seeking tighter spreads (without additional commissions).

The Ultra Low account also offers swap-free trading on a broad range of assets—including Gold and EUR/USD—making it attractive for swing traders who hold positions for days or weeks. Meanwhile, the Shares Account is tailored to long-term investors, providing direct access to exchange-traded stocks.

XM also offers micro lot trading through both the Standard and Ultra Low Accounts. Micro accounts provide access to real market conditions while keeping risk low. Such accounts are a useful choice for traders who want to gain experience and test strategies.

Demo Account

Demo accounts are a valuable tool for beginners, offering the chance to test strategies and build confidence on the trading platform without putting real capital at risk. They provide live quotes and replicate real market conditions across forex, commodities, indices, and stocks. Once comfortable, traders can easily transition from demo to live trading. XM offers demo accounts via its web platform as well as MetaTrader 4 and MetaTrader 5.

Swap-Free Trading

XM offers swap-free trading on major instruments through its Ultra Low account types. Both the Ultra Low Standard and Ultra Low Micro accounts allow clients to trade without incurring any overnight interest (swaps) on open positions.

What is CFD Leverage?

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

For the XM Global Limited entity, the maximum leverage is 1:1000. This means that with an account of $1,000, you can control up to $1,000,000 worth of positions in the market. This is an unusually high level of leverage and very risky to use.

Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders should keep in mind that it can amplify both their profits and their losses.

Leverage varies by asset class, as illustrated in the following table:

XM keeps your selected leverage unchanged during major market events. While many brokers reduce leverage without warning during high-impact releases such as Non-Farm Payrolls,  XM maintains the level you choose, up to 1:1000, depending on the entity and account. This provides consistent trading conditions even in volatile environments. (Not applicable to India.)

XM Restricted Countries

XM does not provide service to residents of the United States of America, Canada, Israel, and the Islamic Republic of Iran (and other sanctioned countries).

Research

XM delivers a consistent flow of research through its web platform, which is available in both text and video formats. The commentary spans a wide range of assets, with an emphasis on forex and commodities. Covering both technical and fundamental themes in detail, it offers valuable insights for traders of all experience levels.

Trading Central is available through the web platform and provides actionable insights and trade ideas. The third-party research tool enhances decision-making with technical analysis, forecasts, and strategy suggestions for forex, commodities, indices, and stocks.

The XM web platform also integrates a Reuters news feed, giving traders direct access to trusted, real-time financial news. Covering global markets, economics, and key events, the feed helps users stay informed and react quickly to market-moving developments.

XM supports fundamental analysts with an interactive economic calendar that displays upcoming news events by region, expected impact, and release time. The calendar includes consensus forecasts, actual results, and links to charts of affected instruments.

Traders can also use the platform’s market sentiment tools to gauge how positioning is distributed across the market, which can support both contrarian and confirmation-based strategies.

XM Research: My Key Takeaways

I was impressed by XM’s well-rounded suite of research tools, combining in-house market analysis, third-party insights from Trading Central, and real-time financial updates from Reuters. Together, these resources provide traders with a powerful range of technical and fundamental insights without leaving the platform.

Education

XM offers an extensive webinar program that runs seven days a week, led by a team of 77 expert instructors. The free, interactive sessions bring professional-level knowledge directly to traders in an accessible format. Available in 23 languages, the webinars cover a broad range of themes, including actionable trading strategies and live trading sessions. All materials are conveniently available on the XM web platform and mobile app.

Traders can access a comprehensive educational course powered by Tradepedia. Led by founder Avramis Despotis, the program spans eight modules that progress from trading fundamentals to advanced topics such as trading psychology and strategies.

Within each module, lessons are delivered in concise video format, typically under 10 minutes, covering focused themes like news trading and Elliott Wave theory. The course is rich in valuable content and provides new traders with a solid foundation for taking on the markets.

XM’s Live Education is an interactive way for traders to sharpen their skills, with daily sessions covering technical, fundamental, and market-specific themes. Highlights include the Forex Power Hour, where experts provide real-time analysis on currency pairs. The US Market Open Hour is focused on stock and index opportunities as news breaks. Traders can also deepen their technical edge in the Indicators Masterclass or gain context on macroeconomic events in Let’s Talk Fundamentals. Together, these live rooms offer practical, hands-on learning.

XM also offers a podcast series for traders who prefer learning on the go, with episodes covering market recaps, weekly trading themes, macroeconomic developments, and central bank updates, as well as trading psychology. The podcast is available both through the client area and on major podcast platforms, making it easy to stay informed during a commute, workout, or any moment away from the screen.

The Bottom Line

XM Group is a long-established company with over 15 years of experience and multiple entities regulated worldwide. Client funds are segregated, and negative balance protection is standard, but compensation coverage is limited outside the EU.

The broker offers more than 1,400 instruments across forex, commodities, indices, shares, and crypto. Unique products like thematic indices and turbo stocks add depth. Traders can choose between XM’s proprietary web platform and mobile app or the popular MetaTrader 4 and MetaTrader 5. The extensive built-in features of the XM web platform and mobile app really make it stand out from the crowd.

Fees are mixed. Standard Account spreads are relatively high, while the Ultra Low account provides tighter spreads and swap-free options on selected instruments. Non-trading fees are minimal, with only a $10 inactivity charge. Deposits and withdrawals are free and fast, although crypto funding is not yet available. Free VPS hosting is offered to clients who meet balance and trading volume requirements.

I rate XM as a strong choice for beginners, casual traders, swing traders, and day traders. Scalpers and long-term investors may find some limitations, such as the absence of raw-spread accounts or investment products like exchange-traded ETFs and bonds. Overall, with its excellent education, research, and customer support, XM delivers a well-rounded and robust trading experience.